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2 Emperor Irvine, CA 92604

3 Beds 3 Baths 1,737 sqft Built 1977

$749,900

List Price

$3,250

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $431.72
  • 5 Days on Market
  • MLS # : OC21018126
  • Updated Date : 01/30/2021 at 11:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,737 sqft
  • Baths : 2 full , 1 half
Listing Agent

First Team Estates

Listing Agent's Description

Experience Irvine Living at its finest at The Groves. The interior, end-unit home boasts three spacious bedrooms and three bathrooms with no one above or below. A true entertainer's backyard awaits with one of the largest lots in the entire community. The floor plan includes an inviting personality with a thoughtfully upgraded kitchen, recessed lighting and newer appliances with gas range. Warm ambient light fills the home year round. The master suite has vaulted ceilings, fan, a spacious closet and a bonus storage area. The home is finished with low maintenance flooring on the main living floor and direct access to the spacious two car garage. The community is set with well-maintained grounds, a sparkling pool, and plenty of guest parking. With lower HOA dues and part of the award willing Irvine School District, this is the perfect place to call home.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)

PRICE & RENT TRENDS

Neighborhood: Irvine Groves

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k943k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Irvine Groves

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $19813818

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Venado Middle School Middle Regular 577 18 8
Irvine High School High Regular 1,968 64 9
Venado Middle School Middle Unknown NA

Venado Middle School

  • Education Level: Middle
  • # of students: 577
  • # of teachers: 18
8
GreatSchools Rating

Irvine High School

  • Education Level: High
  • # of students: 1,968
  • # of teachers: 64
9
GreatSchools Rating

Venado Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$674,910$824,890$749,900

PURCHASE PRICE

$2,925$3,575$3,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,250
EXPENSES Loan Payment -$2,605
Property Tax -$664
Property Insurance -$69
HOA -$350
Property Management Fees -$159
CASH FLOW
-$597

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$749,900

PROJECTED PRICE

$3,250

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,474

INVESTMENT

$204,474

Down Payment
$187,475
Rehab Estimate
$5,750
Closing Costs
$11,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,475
Loan Amount $562,425
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$6,499

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $3,250

    LIST RENT
  • $1.87

    LIST RENT PER SQFT
  • $3,339

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,2503$3,2954$3,3955$3,450
$3,450
RENT COMPS ANALYSIS
  • 2 Emperor Irvine, CA 2
    • 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.87
    •  
  • 14232 Wyeth Avenue Irvine, CA 1
    • 4 beds 2 baths ∙ 1,614 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,614 Sqft ∙ Built 1974
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.86
    •  
  • 3 Wood Nymph Irvine, CA 3
    • 3 beds 3 baths ∙ 1,708 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,708 Sqft ∙ Built 1976
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.93
    •  
  • 4381 Manzanita Irvine, CA 4
    • 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 1974
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $1.91
    •  
  • 1 Tortoise Shell Irvine, CA 5
    • 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 1976
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.99
    •  
PROPERTY LISTING DETAILS
Alexander Yu
First Team Estates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21018126
Last Updated: 01/30/2021
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